Jones Financial Companies Lllp Makes New Investment in Elevance Health, Inc. $ELV

Jones Financial Companies Lllp bought a new stake in Elevance Health, Inc. (NYSE:ELV) during the second quarter, HoldingsChannel.com reports. The firm bought 13,272 shares of the company’s stock, valued at approximately $5,133,000.

Other institutional investors also recently modified their holdings of the company. WealthCollab LLC lifted its position in shares of Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after buying an additional 27 shares during the last quarter. Kilter Group LLC bought a new position in Elevance Health in the second quarter valued at about $28,000. Kemnay Advisory Services Inc. acquired a new position in Elevance Health during the fourth quarter worth about $31,000. J.Safra Asset Management Corp bought a new position in shares of Elevance Health in the fourth quarter worth about $32,000. Finally, Main Street Group LTD bought a new position in shares of Elevance Health in the first quarter worth about $39,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 0.5%

Shares of ELV stock opened at $402.62 on Tuesday. Elevance Health, Inc. has a 1-year low of $274.84 and a 1-year high of $436.24. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a market cap of $87.32 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 2.29 and a beta of 0.68. The stock has a 50-day moving average of $394.79 and a 200-day moving average of $360.49.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. During the same period in the prior year, the business posted $8.84 earnings per share. The firm’s revenue was up .8% on a year-over-year basis. On average, equities research analysts forecast that Elevance Health, Inc. will post 27.18 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a dividend of $1.72 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. Elevance Health’s dividend payout ratio is 30.58%.

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ELV shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Elevance Health in a report on Thursday, August 13th. Mizuho raised their target price on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $395.00 target price on shares of Elevance Health in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Elevance Health from a “hold” rating to a “buy” rating and upped their price target for the stock from $363.00 to $498.00 in a report on Wednesday, May 20th. Finally, Leerink Partners increased their price target on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $440.90.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.